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BRIEF-Stanley Black & Decker Reports 2Q 2022 Results

BRIEF-Stanley Black & Decker Reports 2Q 2022 Results

Reuters · 07/28/2022 06:15
BRIEF-Stanley Black & Decker Reports 2Q 2022 Results

- Stanley Black & Decker Inc SWK:

  • STANLEY BLACK & DECKER REPORTS 2Q 2022 RESULTS

  • Q2 REVENUE ROSE 16 PERCENT TO $4.4 BILLION

  • Q2 GAAP EARNINGS PER SHARE $0.51

  • IMPLEMENTING GLOBAL COST REDUCTION PROGRAM EXPECTED TO DELIVER PRE-TAX SAVINGS OF $1 BILLION BY END OF 2023

  • EXPECTED PRE-TAX SAVINGS FROM COST REDUCTION PROGRAM TO GROW TO APPROXIMATELY $2 BILLION WITHIN 3 YEARS.

  • UPDATING FULL YEAR 2022 DILUTED GAAP EPS GUIDANCE RANGE TO $0.80 - $2.05

  • UPDATING FULL YEAR 2022 ADJUSTED DILUTED EPS GUIDANCE TO $5.00 - $6.00

  • STANLEY BLACK & DECKER - HAS IMPLEMENTED SIGNIFICANT PRODUCTION CURTAILMENTS TO SLOW FINISHED GOODS MANUFACTURING

  • STANLEY BLACK & DECKER - & EXPECTS INVENTORY TO DECLINE SEQUENTIALLY, BEGINNING Q3 2022

  • STANLEY BLACK & DECKER - CO EXPECTS COST REDUCTION INITIATIVES TO GENERATE COST SAVINGS OF APPROXIMATELY $150 TO $200 MILLION IN REMAINDER OF 2022

  • STANLEY BLACK & DECKER - AGGRESSIVELY REDUCING INVENTORY TO SUPPORT WORKING CAPITAL REDUCTION OF $1.0 TO $1.5 BILLION & FREE CASH FLOW GENERATION IN H2 OF 2022

  • EXPECTS TO ACHIEVE $1 BILLION OF COST SAVINGS BY END OF 2023

  • EMBARKING ON A THREE-YEAR JOURNEY TO COMPLETELY RESHAPE ITS SUPPLY CHAIN

  • TOTAL PRE-TAX ACQUISITION-RELATED AND OTHER CHARGES IN Q2 OF 2022 WERE $248.1 MILLION

  • Q2 EARNINGS PER SHARE VIEW $2.12, REVENUE VIEW $4.75 BILLION -- REFINITIV IBES DATA

  • FY2022 EARNINGS PER SHARE VIEW $9.66, REVENUE VIEW $18.82 BILLION -- REFINITIV IBES DATA

  • STANLEY BLACK & DECKER - EXCLUDING SUCH PAYMENTS, CASH GENERATION EXPECTED TO BE $1.0 TO $1.5 BILLION DRIVEN BY WORKING CAPITAL REDUCTIONS IN FY

  • STANLEY BLACK & DECKER - SEES FCF $0.4 TO $1.0 BILLION IN BACK HALF OF YEAR INCLUDING TAX PAYMENTS OF $0.5 TO $0.6 BILLION ASSOCIATED WITH SECURITY DIVESTITURES

Source text for Eikon: ID:

Further company coverage: SWK


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